FMG - Fortescue Ltd

[Country Lad]

We seem to be posting more on FFI stuff here now because there is not much news about the boring iron ore company. I thought it may be an idea if we separate the 2 so I will start an FFI thread for all this new stuff. Use it or not as you see fit.
I hope that is OK @Joe Blow seeing it is not listed

 

[Garpal Gumnut]

We seem to be posting more on FFI stuff here now because there is not much news about the boring iron ore company. I thought it may be an idea if we separate the 2 so I will start an FFI thread for all this new stuff. Use it or not as you see fit.
I hope that is OK @Joe Blow seeing it is not listed

No problems really but FFI is intrinsic to FMG.

I guess it will give the “ I’m sorry if I seem to be hijacking this thread “ mob somewhere to post.

gg

 

[DrBourse]

Today is 16/12/21 abt 1PM - ON Thursday 16/12/21, was going to hold FMG till $20/$21 – BUT TODAY there are Sell Divergences (pages 45 & 177) appearing on several ST Indicators, my CCI is just one of them AND the MFI (page 95) is beginning to look Toppy.

FMG SP is at the top Band of the Linear Regression (pages139-142), and is just below the next Gap Down Minor Resistance Line (pages203-212), and FMG’s recent Green Candles are showing signs of “Loss of Momentum”.

As I mentioned on 16/12/21 I was gunna hold – But there are enough TA Signals now for me to BAIL.

I was in @ $17.35 on 23/11/21, I’m Out NOW @ $18.98 – will wait to see what happens next B4 I jump back onto FMG.

Looks like the Duck missed out on this one - that's what happens to anyone that Ducks out via the Ignore Button.

Remember to DYOR.

Cheers.
DrB

 

[divs4ever]

i wouldn't be totally heart-broken to see FMG slide into the $14 range again ( but i suspect it won't near-term )

but take care just the same , there are a lot of distractions out there

 

[Garpal Gumnut]

Just some thoughts on FMG's recent run up from the $14 mark which I was fortunate enough to get on early, never having held FMG and missing the run up some years ago from $8 or so.

On the charts it seems to have slowed its rise, the daily volume is falling and it is nudging the previous gap circled just below $20, but the upward trend is flattening and the RSI is overbought.

I have the feeling it will continue its march towards previous highs and have put a cheeky limit order in the recent gap above $16.

I also intend to take a Life Policy out on the ole Twiggy, just in case. Because apart from the price of iron ore the reason this little piglet is moving is all down to him.

gg

 

[Country Lad]

It is at an interesting point. It could be said it is a symmetrical top triangle indicating a downward direction from here, but this is the sort of P&F pattern I like as positive and it didn't keep to the songbook at bottom triangle. Although the volume is decreasing the momentum still seems to be there. So, my guess is that technically it should retrace but my gut and P&F says it won't. Sorry @Garpal Gumnut but I don't believe in the gap theory.

 

[DrBourse]

Hi Country Lad,

Triangles are Tricky Little Suckers, Symetric, Ascending & Descending Triangles can go either way, depending on the Candle Construction within each Triangle.

Your P&F Example reinforces that fact, particularly the one for Aug on your P&F Chart.

Pages 187 to 192 (below) explain the theory.

Cheers.
DrB

 

[Country Lad]

Thanks @DrBourse but too much information for a simple country lad like myself. After nearly 40 years of charting I have a reasonable idea of patterns. The August triangle to which you refer was always going to be a descending one - never in doubt.

 

[Value Collector]

Maybe we should have kept the FMG and FFI threads together because FFI is just part of FMG, But split of another thread to talk about FMG Tech Analysis.

 

[divs4ever]

BUT are they likely to split ( list separately ) in the future

given FFI is heavily into research and investing in new infrastructure , i think a split is a logical option ( so cash can be raised from the public ) , but only time will tell

now if it was a divestment/IPO Twiggy could keep a controlling interest and have some flexible funding options

 

[Garpal Gumnut]

Maybe we should have kept the FMG and FFI threads together because FFI is just part of FMG, But split of another thread to talk about FMG Tech Analysis.

It is my belief that if people just kept to the topic there would be plenty of interesting conversation about FMG and its subsidiary FFI.

There is a disturbing trend from some recent posters on this and other stock threads to discuss.

• Other stocks they have bought completely unrelated to FMG or Iron stocks.
• Their investing/profit prowess which is boring me to ****.
• The size of their jock straps and/or their bras.
• Other stuff that nobody who knows them would listen to and they can inflict on ASF.

Nobody cares. OK.

Just discuss FMG + or - FFI.

Technical AND Fundamental Analysis imo is one of the attractions of ASF. To divide the two would not be helpful imo.

Peace be with you all.

gg

 

[Value Collector]

BUT are they likely to split ( list separately ) in the future

given FFI is heavily into research and investing in new infrastructure , i think a split is a logical option ( so cash can be raised from the public ) , but only time will tell

now if it was a divestment/IPO Twiggy could keep a controlling interest and have some flexible funding options

I highly doubt they will split, FFI will be like BHP's oil and gas eg just another part of the business that brings diversification of revenue.

And before you point out that BHP is in the process of getting rid of their OIL gas business, keep in mind that is only because they don't want exposure to fossil fuels, but for 60 years they have been happy to have an energy business inside their company.

 

[Value Collector]

It is my belief that if people just kept to the topic there would be plenty of interesting conversation about FMG and its subsidiary FFI.

There is a disturbing trend from some recent posters on this and other stock threads to discuss.

• Other stocks they have bought completely unrelated to FMG or Iron stocks.
• Their investing/profit prowess which is boring me to ****.
• The size of their jock straps and/or their bras.
• Other stuff that nobody who knows them would listen to and they can inflict on ASF.

Nobody cares. OK.

Just discuss FMG + or - FFI.

Technical AND Fundamental Analysis imo is one of the attractions of ASF. To divide the two would not be helpful imo.

Peace be with you all.

gg

I would be happy to keep this thread as a commentary and discussion about the entire business from a fundamental perspective which obviously would include FFI, and split off the TA stuff (or keep the TA stuff here too, I don't care)

But it does seem weird for FFI to have its own thread, I don't see how it makes sense at all, I mean this isn't an IRON Ore thread, its an FMG thread.

But it does seem to me that the TA stuff can date and become irrelevant fairly quickly, where as some of the discussions on fundamentals are relevant for quite a long time, but will be lost into the never never if multiple daily TA updates (that are meaningless in 2 weeks) fill up the thread.

So I am happy for the TA stuff to stay if people think its good, but as I said I think it could be more valuable to split the two, but keep FFI here.

Just my opinion though.

 

[basilio]

But it does seem to me that the TA stuff can date and become irrelevant fairly quickly, where as some of the discussions on fundamentals are relevant for quite a long time, but will be lost into the never never if multiple daily TA updates (that are meaningless in 2 weeks) fill up the thread.

I suggest that is the salient point. As I see it people who see themselves as share traders are focused on graphs that they believe will indicate an immediate selling or buying opportunity to turn a buck Longer term investors however are trying to assess the strength of the company and it's prospects of delivering longer term value to shareholders. In that context discussions on development projects, capacity to perform and the expected value of these projects are the important points.

I have no problem with people make a buck on trading shares. But I agree with VC that diverting discussion from the fundamentals of the business is counter productive to the intention of a thread about the company.

 

[Garpal Gumnut]

I suggest that is the salient point. As I see it people who see themselves as share traders are focused on graphs that they believe will indicate an immediate selling or buying opportunity to turn a buck Longer term investors however are trying to assess the strength of the company and it's prospects of delivering longer term value to shareholders. In that context discussions on development projects, capacity to perform and the expected value of these projects are the important points.

I have no problem with people make a buck on trading shares. But I agree with VC that diverting discussion from the fundamentals of the business is counter productive to the intention of a thread about the company.

I would be happy to keep this thread as a commentary and discussion about the entire business from a fundamental perspective which obviously would include FFI, and split off the TA stuff (or keep the TA stuff here too, I don't care)

But it does seem weird for FFI to have its own thread, I don't see how it makes sense at all, I mean this isn't an IRON Ore thread, its an FMG thread.

But it does seem to me that the TA stuff can date and become irrelevant fairly quickly, where as some of the discussions on fundamentals are relevant for quite a long time, but will be lost into the never never if multiple daily TA updates (that are meaningless in 2 weeks) fill up the thread.

So I am happy for the TA stuff to stay if people think its good, but as I said I think it could be more valuable to split the two, but keep FFI here.

Just my opinion though.

May I say in a friendly way that I think there are equal amounts of wisdom and hogwash in both your posts.

Stock threads have traditionally tolerated TA and FA in tandem in their commentary and I for one use both in deciding whether to trade, buy or sell stocks. So I would see it as a futile exercise to restrict one or the other on the FMG thread.

As for the FFI thread, it will live or die by the amount of posts it receives and not by dictat or rule-making, as will the FMG thread whether it be TA or FA posts.

Perhaps one day if FFI is spun out of FMG, it may have a dedicated thread of its own.

For now FMG is an iron play with a Hydrogen spruiker at its head selling to a hungry public. It may change. Who knows.

Whenever anyone asserts the longevity of fundamental over technical analysis, AMP and a few other fundamental disasters often come to mind, when the charts said SELL.

gg

 

[over9k]

You know when something hits the news that it's time to act.

 

[UMike]

Out today @ over $20.
Really never thought it'd get there.

Be in again at next Dip.

 

[over9k]

Out today @ over $20.
Really never thought it'd get there.

Be in again at next Dip.

Same here but not at the $20 mark, I was skeptical it'd crack the psychological barrier so flogged at just under.

We can all expect it to moon now.

 

[divs4ever]

no i wasn't but since i as still holding , it might help boost my ego ( whereas a drop may have tempted me to buy extra )

 

[eskys]

I'm trying to make sense of the word 'moon' here when used as a verb. Is it waning or waxing? Or is this a transitive verb? In which case, I get the message.